Social Sentiment for AMZN
Bullish vs. Bearish opinions
Weighted Sentiment 0.08
Amazon.com Forecast and Stock Analysis
Technical AMZN stock analysis for Monday June 24, 2019.
Amazon.com gained 0.14% in the last trading day ( Monday, 24th Jun 2019 ), rising from $1 911.30 to $1 913.90 During day the stock fluctuated 0.82% from a day low at $1 901.30 to a day high of $1 916.86. The price has risen in 7 of the last 10 days and is up by 2.86% over the past 2 weeks. Volume fell in the last day by -1.60 million shares, and in total, 2.14 million shares bought and sold for approximately $4 087.71 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
- 30 day high of the AMZN stock price was $1 935.20 and low was $1 672.00.
- 90 day high was $1 964.40 and low was $1 672.00.
- 52 week high for the Amazon.com - $2 050.50 and low - $1 307.00.
Given the current horizontal trend you can expect Amazon.com with 90% probability to be traded between $1 720.82 and $2 002.27 at the end of this period with 90% probability. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
There are mixed signals in the stock today. A sales signal was issued from a pivot top point on Thursday June 20, 2019, which indicates further falls until a new bottom pivot has been found. Amazon.com holds buy signals from both short- and long-term moving averages. In addition, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down there will be some support from the lines at $1 901.32 and $1 852.28. A break down below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely.
Relative Strength Index (RSI)
RSI14 is 93 and the stock is extremely overbought on RSI14, but may also ontinue to gain. Some stocks see their best performance while being overbought, but very seldom does RSI remain so high for a long time without short corrections. Risk has therefore increased and larger daily movements can be expected for the next couple of days.
Support & Resistance
Amazon.com finds support from accumulated volume at $1 889.98.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $15.56 (0.82%) between high and low. For the last week, the stock has had a daily average volatility of 1.18%.
The stock is extremely overbought on RSI14 (93). This increases the short-term risk substantially.
Our recommended stoploss: $1 853.79 (-3.14%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 93 and this increases the risk substantially. There is a sell signal from pivot top found 2 days ago.)
1.18 %Average volatility
Very Low Low Medium High Very High
Amazon.com holds several positive signals, but we still don't find these to be enough for a buy-recommendation. At the current level we recommend to hold or accumulate in this position whilst awaiting for further development. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Hold/Accumulate.
The general sentiment holds a neutral evaluation of the stock right now. The sentiment is based upon 511 votes on StockTwits.
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|AMZN $1 913.90 ($2.60 0.14%)|
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